G
GALECTIN THERAPEUTICS INC
GALTCIK 0001133416NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsNevadaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-30.84M
Total Assets
$19.53M
Equity
$-127.92M
Shares Out
65.83M
Op. Cash Flow
$-23.90M
Business
Galectin Therapeutics Inc. is a clinical-stage biopharmaceutical company that researches and develops therapies by targeting galectin proteins, primarily galectin‑3, to treat fibrotic diseases, cancer, and related disorders. Its main product candidates are carbohydrate-based galectin inhibitors led by belapectin (GR‑MD‑02), supported by an NCE pipeline and small‑molecule programs via its majority‑owned joint venture, Galectin Sciences LLC. Key business activities include preclinical research, multi-phase clinical trials (including NAVIGATE), patent prosecution, and outsourced manufacturing and clinical operations. Its development and clinical programs operate globally with activated trial sites across multiple countries and commercialization planned through third‑party partners or collaborators.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 14 | 37 | 32 | 32 | 24 | |
| General and administrative | 6 | 6 | 6 | 7 | 6 | |
| Total operating expenses | 20 | 42 | 38 | 38 | 30 | |
| Total operating loss | −20 | −42 | −38 | −38 | −30 | |
| Interest income | 126,000 | 338,000 | 230,000 | 52,000 | 3,000 | |
| Interest expense | −7 | −6 | −3 | — | — | |
| Change in fair value of derivatives | −4 | 588,000 | −432,000 | 557,000 | 138,000 | |
| Total other expense | −11 | −5 | −3 | −424,000 | −348,000 | |
| Net loss | −31 | −47 | −41 | −39 | −31 | |
| Preferred stock dividends | −138,000 | −153,000 | −120,000 | −97,000 | — | |
| Net loss applicable to common stockholders | −31 | −47 | −45 | −39 | −31 | |
| Net loss per common share - basic (in Dollars per share) | −0.48 | −0.76 | −0.74 | −0.65 | −0.52 | |
| Net loss per common share - diluted (in Dollars per share) | −0.48 | −0.76 | −0.74 | −0.65 | −0.52 | |
| Weighted average common and potential common shares outstanding - basic (in Shares) | 64 | 62 | 60 | 59 | 59 | |
| Weighted average common and potential common shares outstanding - diluted (in Shares) | 64 | 62 | 60 | 59 | 59 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 18 | 15 | 26 | 19 | 40 | |
| Prepaid expenses and other current assets | 2 | 2 | 2 | 2 | 2 | |
| Total current assets | 19 | 17 | 28 | 21 | 42 | |
| Other | 96,000 | 243,000 | 490,000 | 733,000 | 7,000 | |
| Total assets | 20 | 17 | 28 | 21 | 42 | |
| Accounts payable | 3 | 6 | 6 | 4 | 2 | |
| Accrued expenses | 5 | 8 | 9 | 9 | 7 | |
| Current portion of convertible notes payable and accrued interest, net of debt discounts related party (Note 5) | 0 | 21 | 0 | — | — | |
| Current portion of derivative liabilities (Note 6) | 0 | 369,000 | 0 | — | — | |
| Accrued dividends payable | 63,000 | 63,000 | 63,000 | 64,000 | 65,000 | |
| Total current liabilities | 8 | 35 | 16 | 13 | 9 | |
| Convertible notes payable and accrued interest, net of debt discounts related party (Note 5) | 33 | 11 | 31 | 30 | 29 | |
| Derivative liabilities (Note 6) | 4 | 47,000 | 1 | 573,000 | 1 | |
| Borrowing and accrued interest under convertible line of credit, net of debt discount related party (Note 10) | 101 | 74 | 41 | 10 | 0 | |
| Total liabilities | 146 | 121 | 88 | 53 | 39 | |
| Commitments and contingencies (Note 12) | — | — | — | — | — | |
| Series C 6% super dividend redeemable convertible preferred stock; 1,000 shares authorized, 176 issued and outstanding at December 31, 2025 and 2024, redemption value: $7,966,000, liquidation value: $1,760,000 at December 31, 2025 | 2 | 2 | 2 | 2 | 2 | |
| Undesignated stock, $0.01 par value; 20,000,000 shares authorized at December 31, 2025 and 2024, 20,000,000 shares designated at December 31, 2025 and 2024, respectively | 0 | 0 | 0 | 0 | 0 | |
| Series A 12% convertible preferred stock; 1,742,500 shares authorized, 1,210,000 and 1,235,000 issued and outstanding at December 31, 2025 and 2024, respectively, liquidation value $1,210,000 at December 31, 2025 | 490,000 | 500,000 | 500,000 | 510,000 | 527,000 | |
| Common stock, $0.001 par value; 150,000,000 shares authorized at December 31, 2025 and 2024, 65,201,995 and 63,157,235 issued and outstanding at December 31, 2025 and 2024, respectively | 65,000 | 62,000 | 61,000 | 59,000 | 59,000 | |
| Additional paid-in capital | 304 | 296 | 292 | 275 | 271 | |
| Accumulated deficit | −433 | −402 | −354 | −310 | −271 | |
| Total stockholders deficit | −128 | −105 | −62 | −34 | 893,000 | |
| Total liabilities, redeemable convertible preferred stock and stockholders deficit | 20 | 17 | 28 | 21 | 42 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of right to use asset | 53,000 | 37,000 | 33,000 | 32,000 | 41,000 | |
| Stock-based compensation expense | 2 | 2 | 2 | 3 | 2 | |
| Non-cash interest expense | 1 | 1 | 697,000 | 410,000 | 283,000 | |
| Change in fair value of derivatives | 4 | −588,000 | 432,000 | −557,000 | −138,000 | |
| Prepaid expenses and other assets | 416,000 | −82,000 | −90,000 | 101,000 | 65,000 | |
| Accrued interest on convertible notes payable and convertible line of credit related party | 6 | 4 | 2 | 623,000 | 206,000 | |
| Accounts payable, accrued expenses and other liabilities | −6 | −2 | 3 | 4 | 4 | |
| Net cash from operating activities | −24 | −42 | −33 | −31 | −24 | |
| Net cash from investing activities | 0 | 0 | 0 | 0 | 0 | |
| Net proceeds from convertible line of credit related party | 21 | 30 | 30 | 10 | 0 | |
| Net proceeds from issuance of common stock | 3 | 0 | — | 0 | 7 | |
| Net proceeds from exercise of common stock options and warrants | 2 | 1 | 10 | 0 | — | |
| Net cash from financing activities | 26 | 31 | 40 | 10 | 37 | |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3 | −11 | 7 | −21 | 13 | |
| Payment of preferred stock dividends in common stock | 138,000 | 91,000 | 120,000 | 97,000 | 171,000 | |
| Common stock purchase warrants issued in connection with related party line of credit | 667,000 | 845,000 | 671,000 | 899,000 | 0 | |
| Noncash right to use lease asset | 61,000 | 0 | 0 | 111,000 | 0 | |
| Conversion of Series A preferred to common stock | 10,000 | 0 | — | — | — |
Filings
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